New Found Gold Corp (NYSEAMERICAN:NFGC) is one of the explosive mining penny stocks to watch in 2026.
NFGC stock has climbed more than 80% over the past year, and the Street expects it to rise more than 90% over the next 12 months
Gold bars. Photo by Zlaťáky.cz on Pexels On April 27, New Found Gold Corp (NYSEAMERICAN:NFGC) reported that it raised C$115 million in gross proceeds through an equity offering in a bought deal financing. The company said it closed the offering of 38.9 million shares of its common stock, including the full exercise of the underwriters’ over-allotment option to purchase an additional 5.1 million shares.
EdgePoint Investment Group and New Found Gold shareholder Eric Sprott participated in the offering. Sprott already had a stake of around 19% in New Found Gold. New Found Gold plans to use the net proceeds from the offering to fund its flagship Queensway gold project.